Does economic growth and energy consumption drive environmental degradation in China’s 31 provinces? New evidence from a spatial econometric perspective

The panel data analysis points to economic and social factors contributing to NO_x, PM_2.5, PM₁₀, SO₂, and VOCs in China’s 31 provinces. The spatial correlation analysis using Global and Local Moran’s I values indicates the existence of a significant and positive spatial autocorrelation with respect to environment, economy and energy, and the high spatial correlation is evident in the eastern region, covering the northern part of Yangtze River Delta, Huaihai Economic Zone, and the lower reaches of the Yellow River Economic Belt. The empirical estimation is performed through spatial lag and spatial Durbin models. All emitted air pollutants in 31 provinces have significant spatial dependence and strong spillover effects. There is an inverted U-shaped relationship between emitted air pollutants (NO_x, PM₁₀, VOCs, and PM_2.5) and per capita GDP, which follows the EKC hypothesis. The relationship between SO₂ and per capita GDP does not follow the EKC hypothesis. There is a positive relationship between pollutant emissions and coal consumption, which is consistent with current studies for various countries like Canada, Denmark, UK and US and regions like New York State. However, the effects of science and technology investment on air pollutants are mostly positive, which is not as policy expected.     

STRATEGIC INVESTMENT DECISION-MAKING: COMPLEXITIES, POLITICS AND PROCESSES*

This article is a preliminary report on an investigation into the processes of investment decision-making. Three case studies from three firms are presented which show disparities in a number of aspects of process, for example, the length of time taken to arrive at a decision, the number and intensity of disagreements and uncertainties encountered. Data were collected for these cases through semi-structured interviewing from multiple informants in the three organizations, thereby permitting the use of analysis of variance techniques of the different perspectives given by informants. Perceptions of the effectiveness of the decisions were also gathered. One finding from the study is that the decisions with the lowest perceived effectiveness (in firm HE) also lost support from those involved in making the decision during the process, although the decision was eventually implemented. This decision also had the least agreement amongst informants as to the main sources of disagreements. Informants of all three decisions saw effect upon product quality and productivity, fit with business strategy and competitive position of the company as the most important factors to take into account in evaluating the decisions. In firm CG, however, there were disagreements as to how the investment should be evaluated. In the conclusions to the article a disucssion is given as to the nature of evaluation procedures in relation to the developing theory of information systems.     

If only consumers knew: How sampling impacts wine innovation diffusion in the U.S. foodservice industry

A survey (n = 151) explored consumers’ experiences with wine-on-tap, a current trend in the U.S. foodservice industry. Wine consumers’ innovativeness (R² = .49) was explained by wine involvement, opinion leadership, and usage of information sources. Those who recently tried wine-on-tap (n = 43) were significantly more innovative (innovators) than those who never tried it (noninnovators). Furthermore, noninnovators expected to pay significantly less for a glass of wine-on-tap when compared with wine poured from a bottle. Contrary to expectations, the driving force for noninnovative behavior is lack of availability and awareness as opposed to a lack of interest in wine-on-tap.     

Changes in analysts’ stock recommendations following regulatory action against their brokerage

Review of Accounting Studies - Despite the importance of sell-side analysts in the capital markets, we know little about the effectiveness of routine monitoring of the sell-side industry. We...     

On tap: Foodservice operators’ perceptions of a wine innovation

An online survey explored foodservice operators’ (N = 57) perceptions of wine-on-tap, a recent trend in the United States. Adopters (39.1%) considered themselves more innovative, willing to take risks, and influential on others’ opinions than nonadopters (60.9%). Foodservice operators who currently offer wine-on-tap utilized interpersonal information sources (e.g., distributors) more frequently than nonadopters. Additionally, adopters perceived wine-on-tap’s characteristics more positively than nonadopters, indicating wine-on-tap was significantly easier to use than bottled wine. Among other implications, networking stood out as an important driver of innovative behavior in the foodservice industry.     

Benchmarking Risk Management Within the International Water Utility Sector. Part I: Design of a Capability Maturity Methodology

Risk management in the water utility sector is becoming increasingly explicit. However, due to the novelty and complexity of the discipline, utilities are encountering difficulties in defining and institutionalising their risk management processes. In response, the authors have developed a sector specific capability maturity methodology for benchmarking and improving risk management. The research, conducted in consultation with water utility practitioners, has distilled risk management into a coherent, process‐based framework. We identified eleven risk management processes, and eight key attributes with characterise the extent to which these processes are defined, controlled and institutionalised. Implementation of the model should enable utilities to more effectively employ their portfolio of risk analysis techniques for optimal, credible and defensible decision making.     

Too close for comfort? Distinguishing between team intimacy and team cohesion

The authors examine theory and research on team intimacy and team cohesion, and argue that the two have often been confused, merged, and used interchangeably in recent theoretical, empirical, and applied work on team effectiveness. The authors propose distinct definitions to clarify and distinguish between team intimacy and team cohesion, and suggest areas that will aid research and application. Their examination provides a framework for understanding the inconsistent findings in team effectiveness and team building research and thus helps to improve human resource management (HRM) interventions.     

The Board's missing link

If a dam springs several leaks, there are various ways to respond. One could assiduously plug the holes, for instance. Or one could correct the underlying weaknesses, a more sensible approach. When it comes to corporate governance, for too long we have relied on the first approach. But the causes of many governance problems lie well below the surface--specifically, in critical relationships that are not structured to support the players involved. In other words, the very foundation of the system is flawed. And unless we correct the structural problems, surface changes are unlikely to have a lasting impact. When shareholders, management, and the board of directors work together as a system, they provide a powerful set of checks and balances. But the relationship between shareholders and directors is fraught with weaknesses, undermining the entire system's equilibrium. As the authors explain, the exchange of information between these two players is poor. Directors, though elected by shareholders to serve as their agents, aren't individually accountable to the investors. And shareholders--for a variety of reasons--have failed to exert much influence over boards. In the end, directors are left with the Herculean task of faithfully representing shareholders whose preferences are unclear, and shareholders have little say about who represents them and few mechanisms through which to create change. The authors suggest several ways to improve the relationship between shareholders and directors: Increase board accountability by recording individual directors' votes on key corporate resolutions; separate the positions of chairman and CEO; reinvigorate shareholders; and give boards funding to pay for outside experts who can provide perspective on crucial issues.     

French revolution or industrial revolution? A note on the contrasting experiences of England and France up to 1800

At the end of the eighteenth century, England and France both underwent revolutions: France the French Revolution, England the industrial revolution. This note sheds new light on these contrasting experiences in the histories of England and France by looking at the evolution of real consumer prices in London and Paris in the centuries leading up to 1800. Whilst in London, building workers were facing low and stable consumer prices over the period, leaving plenty of scope for a demand-driven consumer revolution (in particular after 1650), their Parisian counterparts had to engage in a year-long grind to maintain a decent living, and often had to cut consumption to make ends meet. The exercise conducted in the present paper gives a quantitative and economic underpinning to the notion that the French revolution did not arise out of nowhere, but rather had its roots in centuries of hardship amongst working class people as they struggled to make a living.